Assenagon Asset Management S.A. Makes New $8.87 Million Investment in Reinsurance Group of America, Incorporated (NYSE:RGA)

Assenagon Asset Management S.A. purchased a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) in the 4th quarter, Holdings Channel reports. The fund purchased 41,516 shares of the insurance provider’s stock, valued at approximately $8,869,000.

Several other institutional investors also recently made changes to their positions in RGA. Earnest Partners LLC grew its holdings in Reinsurance Group of America by 1.9% in the second quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock valued at $539,476,000 after purchasing an additional 50,228 shares during the last quarter. WCM Investment Management LLC increased its stake in Reinsurance Group of America by 1,208.5% in the third quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock valued at $527,742,000 after purchasing an additional 2,260,605 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Reinsurance Group of America by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,109,766 shares of the insurance provider’s stock valued at $241,849,000 after acquiring an additional 18,162 shares during the last quarter. Zurich Insurance Group Ltd FI raised its stake in Reinsurance Group of America by 681.8% during the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock worth $104,244,000 after purchasing an additional 442,883 shares during the period. Finally, Millennium Management LLC raised its position in shares of Reinsurance Group of America by 43.8% in the 2nd quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock worth $89,758,000 after buying an additional 133,212 shares during the period. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Down 0.3 %

Shares of Reinsurance Group of America stock opened at $223.16 on Monday. Reinsurance Group of America, Incorporated has a 12-month low of $163.81 and a 12-month high of $233.81. The firm has a market capitalization of $14.70 billion, a PE ratio of 20.49 and a beta of 0.94. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. The stock’s fifty day moving average is $219.83 and its 200-day moving average is $215.94.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.57 earnings per share. Equities analysts anticipate that Reinsurance Group of America, Incorporated will post 21.4 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Friday, November 8th. Reinsurance Group of America’s payout ratio is presently 32.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. TD Cowen began coverage on Reinsurance Group of America in a research report on Wednesday, October 9th. They issued a “hold” rating and a $235.00 target price for the company. Raymond James raised their target price on Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 24th. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Company boosted their target price on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $228.31.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.